Investor | Announcements | Annual report 2011

Tryg’s Supervisory Board has today approved the annual report 2011.

With a technical result of DKK 1,534m and a result after tax of 1,140m, Tryg took another step towards achieving the mid-term target of a return on equity of 20% after tax. The result is satisfactory and is achieved in a year impacted by storms and cloudbursts and turbulence on the financial markets.    

Highlights 2011
• Profit after tax for the year was DKK 1,140m, compared to DKK 593m in 2010.
• Technical result of DKK 1,534m, compared to DKK 375m in 2010.
• Combined ratio of 93.5, against 98.8 in 2010.
• The year was impacted by storm and cloudburst claims, which amounted to DKK 1.6bn, as against DKK 291m in 2010.
• The cloudburst in the Copenhagen area on 2 July resulted in expenses before reinsurance of DKK 1.2m and affected the result by DKK 196m.
• Higher level of large claims than in 2010: DKK 858m, as against DKK 813m.
• The expense ratio improved from 17.0 to 16.8.
• Return on equity after tax of 13.1%, as against 6.6% in 2010.
• Cash dividend of DKK 400m, equivalent to DKK 6.52 per share.

Highlights Q4 2011
• Profit after tax of DKK 344m.
• Technical result of DKK 271m.
• Combined ratio of 95.5.
• The quarter was effected by claims costs arising from storms Berit and Dagmar, with weather claims totalling DKK 305m.
• A high level of large claims totalling DKK 398m.
• Expense ratio of 17.4.

Download the annual report 2011